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Real wages up 4.8% yr/yr in January-September 2006

Real wages in Hungary rose 4.8% yr/yr in January-September 2006, based on an 8.0% increase in net monthly wages from the same period of 2005 and an average CPI of 3.1%, the Central Statistics Office (KSH) announced on Thursday.

In September alone, real wages dropped 1.8% year on year, Econews calculated, based on a 4.0% year on year rise in net wages and twelve-month CPI of 5.9% in September. Gross monthly wages rose 7.1% in twelve months to Ft 160,993 (EUR 626) in September, and net wages rose 4% to Ft 103,231 during the same period. In the first eight months of 2006, gross monthly wages rose 7.7% year on year to Ft 166,561 and net monthly wages were up 8.0% at Ft 109,450. Total work income, including extra-wage benefits and in-kind contributions, rose 7.9% to Ft 175,500. Extra-wage benefits and in-kind contributions accounted for 5.1% of total work income on average in January-September. Business sector gross wages rose 7.6% year on year to Ft 155,983 a month and public sector gross wages were up 6.9% in twelve months at Ft 174,463 in September. (Mti-Eco)